How FIES Payments Work

FIES is the student financing program of the Brazilian Federal Government.

With interest rates lower than those on the market, the FIES is a hand in hand for those who dream of a college degree, but failed to pass a public university and can not afford to attend a private college Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado.

FIES has already benefited some 2 million students and is part of a series of government initiatives to facilitate access to higher education. In addition to low interest, another major advantage of the program is the extended repayment term, which only begins counting after graduation.

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Since 2015, FIES rules have been changing a lot. Now there is a limit of vacancies and therefore, in addition to meeting the requirements of participation, the interested party must undergo a selective process that uses the Enem note to classify the candidates. The limits of family income and grace period have also undergone reformulations, which are valid as of 2018 Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado.

If you have questions about how the FIES payment works, check out the following questions and answers!

How much does FIES registration cost?
Registration for FIES is free and must be made only in the official portal of the selection process, FIES Selection.
The collection of any type of registration fee, whether by institutions or persons, is prohibited! The process is simple and fully computerized.

How does FIES work? Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado
FIES is student funding. In practice, the student receives an allowance to pay the college and, within the period provided in the contract, must return this amount to pay off the debt. In FIES, interest rates are lower than those charged in the market and the term for settlement is long.
Starting in 2018, the federal government will deploy three different types of FIES:

Financing with zero interest for those who have monthly gross family income of up to 3 minimum wages per person, financed by public resources.
Low interest financing for those who have a monthly gross family income of up to 5 minimum wages per person that is funded by regional funds in the North, Northeast and Midwest Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado.
Low-interest financing for those with a monthly gross family income of up to 5 minimum wages, financed by the National Development Bank (BNDES) and regional development funds in the North, Northeast and Midwest.
Does FIES deposit money into the student’s account to pay college tuition?
No. Although it works as a loan – with a contract, interest and term of payment, FIES does not deposit any money into the student’s account. The amount financed is transferred directly to the university.
Need to pay FIES while studying?
Yes, while enrolled in the funded course the student must pay the amount related to the interest of the financing.
The plots are quarterly and have a roof.

Do you need to pay FIES as soon as you graduate?
It depends. In contracts signed until 2017, upon graduating from the course the student who obtained the FIES enters the so-called grace period. For a year and a half, you should pay only the quarterly interest installments. So, you can organize yourself financially to start repaying the debt in the next phase.
From 2018, the rule is modified. The student will have the FIES debt portion automatically deducted from the salary, as soon as they get employment. Please refer to the FIES notice you wish to attend for details Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado.

When does FIES debt repayment begin?
Payment of FIES debt begins after graduation. Depending on when the student signed the FIES contract, this payment may or may not have a grace period. The ideal is to consult the contract, if you already have the FIES, or the announcement of the selection process, if you are still running for a vacancy.

How much does FIES cost?
The student who obtains the FIES has two types of payments to make:
Quarterly installments: they refer to interest on the financing and have the maximum value defined in the edital of each issue. These installments must be paid during the whole course financed and up to a year and a half after graduation Monografias Prontas, Dissertação de Mestrado e Tese de Doutorado.
Monthly installments: begin to be paid after graduation and the amount will depend on factors such as: duration of the course financed, tuition, student income, amount financed, etc. Each contract is unique and, if selected, you will have access to all exact values.

What is the payment term of FIES?
At the end of the grace period, whoever managed the FIES will have several years to repay the debt. To know exactly how long you can take the FIES, see the announcement of the edition of which you want to participate.
What courses can be funded by FIES?
Only the courses participating in the Program, offered by colleges well evaluated by the MEC and with vacancies available in the FIES Selection system can be financed.
To find out if the course you are interested in can be financed by FIES, consult the FIES website Selection during the enrollment period. Who can participate in the FIES? As of 2015, every student who wants to apply for FIES must undergo a selection process. You can participate in the selection of the FIES who: Have not completed a college course. Have a monthly gross family income of up to three minimum salaries per person. Have participated in any of the Enem editions as of 2010 with at least 450 points in the average of the objective tests and have not zeroed in on the essay.